Leading multiplex chain PVR INOX has reported a two-fold jump in its consolidated net profit to ₹95.4 crore for Q3FY26 as compared to ₹35.5 crore in the corresponding quarter of last fiscal, on the back of record box office movie collections. The consolidated revenue from operations stood at ₹1,879 crore as compared with ₹1,717 crore, registering a 9.4% growth.
Ajay Bijli, MD, PVR INOX., said, “With a strong content slate ahead, a capital-light expansion strategy, and a significantly strengthened balance sheet, we believe PVR INOX is entering its next phase of sustainable growth. Our focus remains on delighting consumers, driving footfalls through innovation, and creating enduring value for our shareholders.”
For the second consecutive quarter, the business delivered EBITDA margins of 18% at occupancies of 28%+, compared to the pre-COVID period when similar margins were achieved at 350–400 bps higher occupancies. This underlines the enduring benefits of merger synergies and structural cost optimisation, resulting in a more resilient and efficient operating model.
During the quarter, PVR INOX added 20 screens and exited 3 underperforming screens. In the 9 month period, the company has added 62 screens (FOCO and asset light) and exited 11 loss making screens, and remains on track to add 90–100 new screens in FY’26. Under its capital light growth strategy, the company now has 149 screens signed, of which 54 screens are under the FOCO model and 95 screens under the Asset-light model.
Robust operating cash flows and reduced capex intensity drove strong free cash generation which allowed us to reduce debt. In the 9 month period the company generated free cash of ₹587 crore. As of December 31, 2025, the net debt stood at ₹365 crore , lowest since the merger , marking a reduction of ₹1,065 crore or 74% since the merger.
In line with this focus, last month the company concluded the divestment of its entire stake in 4700BC premium snacking brand to Marico for an all-cash consideration of ₹226.8 crore, further strengthening our balance sheet and moving us closer to negligible net debt levels.
Calendar year 2025 marked a historic milestone for the Indian theatrical industry, emerging as the highest-grossing year ever with total box office collections of ₹13,395 crore, representing a 32% increase over pre-pandemic levels and an 13% year-on-year growth. The year also witnessed 37 movies crossing the ₹100 crore box office mark, the highest ever in a single year, reinforcing the depth, resilience and long-term relevance of the theatrical medium in India. Original Hindi language films contributed substantially to the growth. Hindi Box Office delivered its strongest year ever, with collections of over ₹5,500 crore, representing an 18% year-on-year growth.
This performance was supported by a healthier genre mix and more consistent release slate led by a few large tentpole releases including Dhurandhar, which has emerged as the highest-grossing Hindi film of all time with cumulative box office of ₹1,000 crore. Hollywood staged a strong recovery in India with 49% YoY growth, delivering its best post-pandemic year and second best year ever after 2019 with box office collections of ₹1,403 crore, supported by a stronger and more consistent content slate.